Donuts Closes $110 Million in a Financing Led by Silicon Valley Bank

2017-08-10 06:30

Proceeds Used for Merger with Rightside Group and General Corporate Purposes

KIRKLAND, Washington, Aug. 10, 2017 /PRNewswire/ -- Donuts Inc., the global leader in high-quality, top-level domains for promoting and enhancing digital identity, today announced that it has closed a $110 million credit facility led by Silicon Valley Bank (a division of SVB Financial Group: Nasdaq: SIVB), and with participation from Cadence Bank, N.A., Comerica Bank, Pacific Western Bank, and Umpqua Bank. This debt financing was oversubscribed. Donuts is using these funds to complete its $213 million merger with the Rightside Group, and for general corporate purposes.

"We are delighted to partner with Silicon Valley Bank and are gratified by the enthusiastic response from co-lenders," said Donuts chief executive officer, Bruce Jaffe. "SVB understands deeply our business and our industry and did a terrific job in forming a syndicate of leading institutions. This financing will help to fuel our growth, as we focus on helping individuals and organizations to transform their online branding capabilities."

"Donuts growth and opportunities are reflections of the emerging category of new, top-level domains, its management team, portfolio and its strategy," said Jayson Davis, Director, Silicon Valley Bank. "We appreciate the opportunity to have worked with the leadership team at Donuts, as well as our banking partners, to enable the right financing at the right time to help the company achieve its growth goals."

With its latest acquisition, Donuts now offers 238 new high-quality, top-level domains, including .email, .guru, .social, .business, .life, .restaurant, and many more. Donuts domains provide extensive variety to anyone wishing to enhance their brands online. With recent investments in Netki and Geofrenzy, and the acquisition of the Rightside Group, Donuts is leveraging its deep industry expertise to identify and invest in emerging technologies that can enhance the domain name system (DNS), expand the company's portfolio of high-quality top-level domains, or otherwise complement its business and growth strategy.

About Donuts Inc.Donuts offers individuals and organizations new ways to promote and enhance their digital identities. Donuts manages the world's largest portfolio of top-level domains and provides its registrar / reseller customers with innovative services for the discovery, registration, usage and monetization of high-quality domain names. A wholly-owned subsidiary of Donuts, the registrar Name.com is one of the most admired brands in the industry. Donuts' headquarters are in Kirkland, WA; it has offices in Denver, CO; Washington, DC; Dublin, Ireland and Beijing, China.

About Silicon Valley Bank, a division of SVB Financial GroupFor more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.